David Haggith

David Haggith

David Haggith started writing about the economy after he predicted The Great Recession half a year before it hit and was puzzled as to why no economists or stocks analysts saw it coming. In the months after the crisis broke out, he started to write humorous editorials in a series titled “Downtime,“ which chided the U.S. government and bankers who should have seen the economic collapse coming but whose cronyism, greed and ineptitude caused them to run the world into a ditch. Those articles were published in The Hudson Valley Business JournalThe Valley City Times-Record (North Dakota), and The Daily Herald in Tennessee. Haggith is dedicated to regularly criticizing the daily news — not just the content but the uncritical, unthinking nature of almost all of the reporting. He now writes his own blog, The Great Recession Blog, to break down the news as an equal-opportunity critic toward both Republicans and Democrats / Conservatives and Liberals … since neither kind of politician has done anything worthwhile to plot a better economic course. His articles are regularly carried by several economic websites.

David Haggith Articles

In my first Premium Post back in January, “2019 Economic Headwinds Look Like Storm of the Century,” I laid out sixteen major headwinds that would be howling against the economy this year. One of those was the government debt, which I said...
In my last article, “The Bears Have it Right: Economy went Polar Opposite of Bullish Predictions,” I laid out my first prediction for 2019 — a recession by summer. I don’t want the following revelations and facts that I have since come...
Here is a single chart that proves how completely the Fed’s end-game for its recovery failed, which means the fake recovery, itself, is failing. It’s not hard to figure out what happened here.
We are in the end time of an unprecedented era of financial expansion — the greatest expansion of the world’s money supply ever attempted, expansion of the Federal Reserve’s vast and unchecked powers far beyond what the Fed could do before...
The market’s last chaotic day closed in a way that befit the entire year. Up, down, up harder, down harder and done! It looked like the violence of the day may have come from the Plunge Protection Team attempting to push the market up in...
So, the bull market bounced back, right? Not so fast. When one appreciated reader suggested there would be a huge plunge the day after Christmas, given how badly the market plummeted the day before Christmas, I cautioned against that...
Until you got to this tax and spending deal a year ago, it was one of the most hated bull markets. The markets steadily climbed one wall of worry after another, and the problem was that the economic data did not confirm it.
This ain’t no ballgame. This bear has shown up for blood, not sport. The Nasdaq intraday hit the 20% down mark that is widely regarded as qualifying for a change from a bull market to a bear market. A close at that level would have made it...
It’s downright wintry on Wall Street right now. Firmly establishing the worst start of a December for the US stock market in 38 years, all three major stock indices plumbed the greatest depths they have hit all year … and it’s been a bad...
The Big Bear is back. Ursa Major is in the house of the rising sun, and Taurus is in the house of the setting sun. Those are bad signs for investors who are now daily diving into their horoscopes. The market is pouring out of an inverted ...

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The Incas thought gold represented the glory of their sun god and referred to the precious metal as “Tears of the Sun.”